Miniso Group mulls spin-off of its pop toy business (updated)

MINISO Holding

06/06/2025 11:08

Adds details and background from paragraph 2 onwards

June 6 (Reuters) - Miniso Group 9896.HK said on Friday it was making a preliminary assessment of a potential spin-off listing of its pop toy business operating under the brand, "TOP TOY".

The plan is preliminary, with no assurance of the timing, listing venue or other details, the lifestyle products retailer said in a statement.

Miniso has hired JPMorgan Chase & Co. and UBS Group AG for a planned initial public offering of the unit, TOP TOY, in Hong Kong,
Bloomberg
 reported on Wednesday, citing sources.

The TOP TOY brand saw a 58.9% rise in its
March quarter revenue
 and an increase of 120 net new stores from a year before.

 (Reporting by Sherin Sunny in Bengaluru; Editing by Shreya Biswas)

 ((Sherin.Sunny@thomsonreuters.com;))